Refinance Second Mortgage

Nationwide lender offers refinance loans, second mortgage, FHA loan refinancing, loan modifications & fixed rate mortgages for cash out or consolidation with fixed payment financing. Refinance and select a fixed rate 2nd mortgage, variable equity line of credit or a 30-year fixed rate 1st mortgage. Don't let the refinance era of low interest rate mortgages pass you by! You still have time to lock in a great rate on a refinance mortgage that potentially saves you hundreds or thousands of dollars. You can finally access the cash to help make your financial dreams a reality! Apply for a FHA mortgage refinance and enjoy the lower monthly payments and reduced interest rate.

Loan Refinancing for Fixed Rate 2nd Mortgages

Getting a mortgage refinance loan offers you the opportunity to turn your variable rate credit line into a fixed rate equity loan with fixed mortgage terms. This can save you thousands of dollars a year in interest when you refinance and get cash out with a FHA mortgage that allows you to borrow up to 95% loan to value. Interest rates could rise any day, so there's no time to waste! Consolidate all of those high-interest credit cards that never seem to end. You can even make home improvements that could add value and beauty to your home!

A Refinance Second Mortgage could be the home financing solution to ease those financial anxieties. Take a breath, and call Nationwide to talk with an experienced loan professional about refinancing or restructuring your 1st and 2nd mortgage with a loan modification today.

Refinance and Lock into a Fixed Rate Mortgage
  • Fixed Rate Second Mortgage Refinance
  • Loans for Debt Consolidation
  • Pay off Variable Rate HELOC with Fixed Interest Rates
  • Low Rate Mortgage Refinance
  • Sub-Prime 2nd Mortgage Refinancing
  • Cash Out with FHA Mortgage Refinances
  • Non Conforming Mortgages

Consolidate Your Debt and Save Money with Lower Monthly Payments
from a Fixed Rate Second Mortgage
Loan Amount
Current Payments
Home Equity Payment*
Monthly Payment Savings
$30,000
$695
$262
$433
$50,000
$1,145
$436
$709
$80,000
$1,792
$699
$1,093
* This is a sample of refinanced credit debt to and assumes interest rate for the second mortgage at 9.5%.
Apply Now and find out how much you can save!

100% Refinancing - for Fixed Rate 1st Mortgage Loans
  • Interest Only Payments with Mortgage Refinance Loans
  • Consolidate Debt with 1st Mortgages
  • Refinance Adjustable Rate Loans with Fixed Rate
  • Low Rate Home Mortgage Refinance to 100% LTV
  • Sub-Prime Home Equity Refinancing
  • No- PMI (Private Mortgage Insurance)
  • Save Money with Fixed Rate Home Equity Loans

Should I Get a Refinance Loan With a Fixed or Adjustable Rate? Home equity can be converted into money through one of several different instruments. The chore is to find out which one loan is right for your situation. Read the complete article---

Refinance Your Second Mortgage Behind the Controversial "Pick a Payment Loan" Nationwide Mortgage Loans introduces a second mortgage loan that can subordinate to 100% behind a negative amortization first mortgage. This new home equity feature opens the doors for many homeowners who have found it very difficult to get a second mortgage or home equity loan that is compatible with a first mortgage that has a negative amortization Read the complete article---

Refinance or Second Mortgage? by Lynda Nelms
Combining first and second mortgages into one loan can be challenging, but sometimes it makes sense financially as well as being practical. In my borrower's case, the best option was to leave his first mortgage alone, and simply refinance his 125% home equity loan with a 95 or 100% second mortgage to lower his monthly payments. Read the complete article---

10 Considerations for Refinancing Home Equity Loans Making the decision to refinance a home equity loan is an important choice which should involve a great deal of consideration. The following are ten key points for homeowners to consider when making this important decision of securing a second mortgage loan: Read the complete article---


Linda's Advice when considering second mortgage refinances
Ask Linda?

If you have reached the limit with your revolving equity line of credit it's time for a refinance. Verify with your loan officer that your rate is locked with a fixed rate refinance. Fixing the rate with a fixed term will keep your monthly payment steady for the duration of the loan.


Nationwide Home Equity Loan Spotlight

125% Home Equity Loans
Fixed rate home equity loans have become the most popular loan for 1st time homebuyers who have no equity. Now you can pay off debts, refinance variable credit card interest and get additional funds to finance some home improvements.


Is it possible to Refinance my 1st Mortgage only without
Refinancing the Second Mortgage?

Yes, it is possible to leave the 2nd mortgage alone and just refinance the existing first mortgage. The only catch is that the second mortgage lender must approve a subordination agreement. Unfortunately many lenders in second position drag their feet when it comes to subordination agreements. Even if they do allow the second loan to be subordinated, they will require you to meet a certain criteria, like loan to value, and mortgage payment history.

Think about it, why would a lender who could potentially be elevated to first position want to subordinate? Mortgage companies are not required to subordinate loans, so if you want to subordinate an existing second, be prepared for a fight and follow the lender's process for subordination approval.

To learn more about Second Mortgage Refinancing Click Here

Important Terms for a Mortgage Refinance
Second Mortgage Refinance
Combined Loan to Value (CLTV)
Second Mortgage Refinance is a term used for re-doing your existing second mortgage. The goal for refinancing is usually to save money by reducing the interest rate, and/or to get additional cash out. If you are able to lower your mortgage payment several hundred dollars a month, then over the course of the loan you could save Thousands of dollars. This is a popular loan for people who want to convert their current variable rate mortgage into a fixed rate second mortgage with a fixed monthly payment.

Combined Loan To Value (CLTV) is the total balances of the loans secured to the home and how they correlate to the appraised value.

To calculate the Combined Loan To Value Ratio: Add up the balances of the 1st mortgage & 2nd mortgages, and then divide that sum by the appraised value of the home. (ie. When adding the first mortgage of $150,000 with the proposed second mortgage of $45,000.00 the two mortgages are added together to total $195,000.00. If their home is appraised at $200,000 Combined Loan to Value is 97.5% )

Interest Only Mortgage
Debt to Income Ratio (DTI)

Interest Only Mortgage - These loans allow borrowers to make a reduced payment monthly with only the interest portion being due. No part of the interest only payment goes towards paying off the principal of the loan, unless additional money is added to the minimum due. Interest only is allowed usually for the first 10 years or the draw period for most loan programs. These loans have become very popular with the advent of increasing property values because that makes the minimum mortgage payments lower for homes that would normally be too expensive.

Debt to income ratio or DTI is derived by dividing your total monthly payments (mortgage, credit cards, loans, etc.) by your gross income monthly before taxes. DTI is one of the 3 most important factors considered when underwriting a loan for approval.

Nationwide Mortgage Loans wants to make your mortgage refinance experience online a positive one that benefits your finances. Our experienced staff can help you find the lowest possible rate with a refinance or loan modification that works your payment into your budget.

 

Resource Tools

Refinancing Calculator
Analyze the benefits of home refinancing. Get help calculating the monthly payment and discover the net interest savings. It will also calculate how many months it will take to get a return on investments for the mortgage loan costs.

ARM vs. Fixed Rate Calculator
How does a fixed rate mortgage loan compare to an adjustable rate mortgage or home equity line of credit?


2008 FHA Mortgage Limits


Mortgage Refinance News

Mortgage Refinance News

Take advantage of the Nationwide Blog so you can stay up to speed on emerging loan programs and interest rate trends.

Refinance or Second Mortgage?

5 Tips for a Home Equity Loan Refinance

Cash Out Refinance Vs. Home Equity Loans

FHA Mortgage Refinancing with No Equity

Free Finance Guides & Helpful Consumer Reports

Take advantage of our free guides and disclosures that help 1st time homebuyers.

Equity Credit Line Fed Tips
Home Purchase Guide
Understanding Credit Scores
ARM Rate Mortgage- Guide
Consumer Guide -Rate Locks

Mortgage Refinance 125%

Press Play To Hear Podcast

125% Mortgage Refinancing ---
Now Close Concurrently with a 100% First-125% Second Mortgage Combos
- Nationwide Mortgage Loans releases the "125% Mortgage Refinance Combo" which involves 1st and 2nd mortgage loans that refinance simultaneously. Now borrowers are able to refinance with a 100% first mortgage and a 125% second mortgage loan that close concurrently. The more adjustable rate debt that you refinance, the more money you will save!

Additional Refinancing Pages:
Refinance Mortgages | Refinancing after a Bankruptcy |  Refinance Loans | Mortgage Refinance Loan | Adjustable Rate Refinance | Refi Options | 100% Refinancing | 30-Year Fixed Rate Refinance | Bad Credit Refinance | Cash Out Refinancing | Sub-Prime Mortgage | Mortgage Refinance Rental Properties | Mortgage Refinance Second Home | Mortgage Refinance Guidelines | Rate and Term Refinancing | FHA Mortgage Refinance Loans | Loan Refinance | Home Affordable Refinance Program | Home Refinance Loans | Refinance | Home Equity Mortgage Loan Demand Soars | Texas Home Equity Loans | Why The FHA Home Loan Programs Are Safe | How Rising Home Mortgage Rates Could Affect The Housing Market | Will New FHA Mortgage Requirements Hinder Home Buying In 2014 | How Increased Mortgage Delinquencies Could Mean Higher Home Loan Rates | Mortgage Refinance Loans for Self Employed | How A Military Veteran Can Buy A Home With No Down Payment | FHA Rules For Gift Funds And Down Payments | How FHA Mortgages May Burden US Tax Payers | How FHA Financing Could Slow Housing Recovery | How to Know When to Refinance or Pre Pay Your Mortgage | Application for FHA Loan | Get Pre-Qualified for a FHA Mortgage | Down Payment Requirements on a FHA Loan | Pre-Approval Letter for a Home Loan with FHA | FHA Loan Qualification | CALHFA Down Payment Assistance for First Time Home Buyers in California | Mortgage Loans for First Time Home Buyers | Home Improvement Loan Programs
Other Popular FHA Refinance Loans:
FHA Refinancing Loans | FHA Streamline Refinance | FHA Mortgage Loans for Fair Credit Refinancing | FHA Refinance | FHA Loan Limits
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